Topic: Should the foundation apologize to GOX?! - page 3. (Read 4322 times)

Yeah wait until you try to cash out, widthdrawl, or your coins happen to be stolen with your 2 factor enabled and no other ISP logged into your account. I bet you will still love box then. Oh and your supposed 5000 coins you own dropped by almost half their value because of your beloved exchange in the past week.

No.

I've never seen a statement more specifically designed to shift blame, cause panic and drive down the price in my life.

They say a picture paints a thousands words, but in this case a thousand words painted a picture that will shape my view of Gox for a long time to come.

Haha, I don't know. Seems like only yesterday, but time does indeed move faster here  .

Hihi , wasn't that two days ago ? Time is flying faster in the crypto world .

I'm not a programer, so I'm not going to argue about the achievements of the Gox team in this matter. I'm more of a PR guy and a customer and their management here is nonexistent. People don't have to be assured about the safety of their money, but they need honesty and transparency. If you have problems with managing funds, just say it, yes you will lose money, more people will withdraw investments, but that's life, you can't handle it -reduce the number of custommers until you can. What Gox did was what every scammer does, take it slow, don't announce anything, don't admit to anything, if caught blame others.

Hehe, guys I will humour you.  You will read the story soon enough.  I dumped in over $500,000 early last year when the size of the network was 600 Petaflops.  I sold everything around $1142 on GOX at the highest point.  I have bought back in marginally on every single dip since then.  It is not a mystery what happened and now I will ride the push this year to over $8000 per coin.  I planned to only buy back in at about $1.3M and was in the middle of doing so when I got gox'ed, so if all my money was lost I decided to start buying more if not everything I have back into coins and have almost done so hehe.  Again I have recognized the situation.  If everything I had was gone - there was no risk to put it all on the table at this point.  I understood the $500k may go to zero, I do not see it as X million.  I have probably pulled about $150k out.  I see no reason to take anything out right now.

I am so frustrated that I know a few miners that had a lot more coins than me and he dumped them all at $10 long before I knew what a Bitcoin was.  Now he works for me.  Managing risk is what I excel at.  Sorry that is hard for you to understand.  Best of luck to you.  Maybe you will get lucky with EarthCoin - it is a project I felt worthy of my attention.  You never know...

yea, for someone who is trying to portray himself as business savvy that is one amateur move

Gox should apologise to the Bitcoin community for its continue shitty service and causing the panic yesterday.

And thinking that 12 millions only have been mined , it's even more funny.

You can not be sane keeping cca 5M USD on an exchange known to have issues for a long time unless it is just a splash in your overall wealth. Those coins are only yours if it sits on your paper wallet with encrypted private key with a solid password. Even if there is 5% or 10% probability that you will lose your coins due to Mt.Gox why the heck would you risk it? 5M USD is enough for several people´s lifetime to spend. You should have withdrawn the money and enjoyed your life.

Indeed, one can at anypoint fort the blockchain and create an altcoin with it's own transaction history diverging for the "real" bitcoin from that point on. However nobody would put much trust nor value in such alt chain.

If someday, more than half of the miners/hashpower agreed to change something fundamental about bitcoins, (say, remove the 21 million bitcoins cap). Of course, it would require an hard fork. Users who agree with the change will use the new blockchain, while those who dissagree will continue tu use (and mine on) the old block chain. But since both will diverge from that point on, new transactions valid on one wont on the other. Sooner or later, people will have to make a choice, wether to use the new or the old. And then, the "losing" chain's coins will be worthless. Don't forget that bitcoin's value is purely based on thrust that it can be exchanged for something. They have no inherent value.

So changing anything fundamental "only" requires a broad concensus. (if only half of people wanted the change, I guess both may exist side by side, but it would be extremely confusing.)

"Don't you know that if you count all the bitcoins that people on this forum have it sums up to around 40 millions ? =))))"

Given that the supply is capped at 21 million that is a good trick.

Me: Hey, let me show you this revolutionary new currency where you no longer need to trust banks to store and send your funds!

You: Oh cool, I love it! Which bank should I use to store my coins?

Me: Uhh... err... wut?

Reminder: If you aren't the sole controller of your private keys, you don't have any bitcoins.

I am sure there are many things I do not understand.  That is why I pay people.  I am also certain there are things you do not.  What GOX did was genius for Bitcoin - you all have it backwards like usual.  In the REAL WORLD calling  a problem out provides credibility.  As opposed to burying it in the shadows for 2.5 years like the foundation who were too busy being popular.  I understand it, it gave me time to load the gatlin up and now they stand little chance.  I enjoy competition.  To cheer the genius of an infant technology like cryptographic currencies such as the Bitcoin Foundation is irresponsible.  With real corporate governance and best practices and procedures that will soon be put forth through an institution with a back bone and some credibility you will see real changes my friends.  Not techies in the valley haha.  Real World professionals.

GOX gets my vote and that is why my funds and coins are there.  Was there a moment I was concerned - sure.  Do I have concern now - not much.  They are more pro-active than most corporations and ALL institutions in my opinion and this is all just my opinion.  NEVER forget this is an experiment people.  Be a big boy and manage your own risk, do not expect a customer support ticket to assuage your fears - too funny!

You are mistaken.

It only takes 1 miner and 1 user to fork the blockchain and create an alternative Bitcoin.  It does not require 51% of the miners.

On the other hand, it requires 100% of all users (not 51% of the miners) to change anything in the fundamental nature of bitcoin.

You clearly have misunderstood what a 51% attack is.

Don't you know that if you count all the bitcoins that people on this forum have it sums up to around 40 millions ? =))))

+1

It's not the bug in their exchange that pissed everyone off..

It's the way they dealt with it.. as always.

Did they have to release a statement to the masses saying 'Bitcoin has a BUG! RUN FOR YOUR LIVES!'..

Inflammatory bollox.

Same same from GOX.

Steer clear. Your choice. 

They were just passing the blame. The devs warned gox about this problem before apparently.

And further more , the bug was first mentioned in 2011 , Gox claimed to have problems but never said a word about what kind of problems till they took the time to find something to blame and come up with this.
If they indeed suffered loses out of this , why don't they say how much and when..

When you 'care' about customers during a Goldrush it is a slippery slope.  There are no rules here and EVERYONE seems to forget this is an experiment.  I have put my money and the people around me, where our mouths are.  I have done some fun projects but the serious ones under development are around the corner.  We also do not need donations or investment hehe.  There are some changes coming my friends.  Coinbase and all the others including Gox have been warned.  Like their M.O. I am fully confident they recognize no validity to any threat - congrats to me!

To the fella above, you seem to forget the direction of Bitcoin is controlled by a 51% stake in its mining abilities.  I offer you the challenge - come up with something better than we have.  We will instantly obsolete 49% of all Bitcoin businesses who do not go with the hard fork when (if) it arrives.  Be aware.  Get educated.